What's Brewing in Europe's
Real Estate Market

The U.K. real-estate industry is betting on Gordon Brown. No, not on becoming prime minister anytime soon, but to give a big boost to the industry in his annual budget speech today.

The chancellor of the exchequer is widely expected to publish a second consultation paper on real-estate investment funds, which will be similar to U.S. real-estate investment trusts. Such funds -- Germany is also considering them -- are expected to boost the U.K.'s property sector, allowing hoteliers and retailers to potentially sell...